San
Francisco, 30 November 2018: According
to a report published by Grand View Research, Inc.; the data center security market is expected to reach a valuation of around
USD 15.49 billion by 2024.
Factors
such as rise in concerns regarding integrity and sovereignty, growing online
traffic due to internet of things (IoT) and online transactions, high adoption
of cloud-based infrastructure, increasing cases of cyber-attacks, and development
of software defined data center (SDDC) can propel the market over the forecast
period (2014 to 2024). Additionally, increasing focus towards implementation better
data security and privacy policies by government and organizations is also
expected to supplement the market growth.
Rise
in number of security breaches and growing number of attacks on data centers
all over the world has increased the awareness and need for improved security
measures, logical as well as physical.
Growing
adoption of cloud computing platforms and virtualization techniques among the
organizations for storage of their business information are expected to boost
the market in the coming years. As they create vulnerabilities across the
network. Various small and medium enterprises shifting their resources to
public clouds. So, increasing amount of data generated online has increased the
need to protect information, which includes critical information such as
intellectual property, personal information, transaction records. This will
fuel the market over the forecast period. Additionally, implementation of software-defined-storage
as well as networking and rising trend of bring your own devices (BYOD) are at
high risk to intrusion and malware attacks, thereby driving demand for
additional control and surveillance in existing infrastructure of the data
centers.
Access
Research Report of Data Center Security Market@ www.grandviewresearch.com/industry-analysis/data-center-security-market
Worldwide data center security
market can be segmented on the basis of application, component, and region.
Based on application, the
market can be split into financial services, IT and telecom, government,
education, healthcare, media and entertainment, and others.
The IT and telecom segment is expected
to grow on account of rising awareness regarding new threats and complexity of
attacks, and development of next generation technology. The financial services
segment is likely to exhibit fastest growth in the coming years due to of high
threats of intrusions into the networks due to presence of large sensitive business
information.
As per components, the market
can be categorized into solution and service. The solution segment occupies the
major share. The segment can be further categorized into logical and physical
security solution. In 2015, the logical segment accounted for more than 80% of
the revenue. The service segment can be fragmented into consulting, managed
services, and integration and deployment.
In 2015, the managed service estimated
for more than 30% of the revenue share and is anticipated to grow at a CAGR of
over 12% during 2016 to 2024. Increasing number of cyber-attacks is expected to
support the growth of consultancy segment in the coming years.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/network-security-software-and-services
Geographically, the market can
be divided into North America, Europe, Asia Pacific, South America, and Middle
East & Africa.
In some regions, the implementation
of data center protection measures is quite low owing to lack of awareness and
high initial costs. However, the recent incidence of breaches is expected to
increase demand for these solutions. In terms of revenue, Europe and North
America are projected to be the major regions due to highly matured data center
market and increasing shift of data centers locations to the cold regions is
also helping countries such as Canada to attract many companies.
Asia Pacific is likely to grow
swiftly in the years to come due to IT spending and increasing adoption of
cloud in small and medium enterprises in the region.
Prominent players operating in
the market include Cisco Systems Inc.; Juniper Networks Inc.; Trend Micro Inc.;
Citrix Systems, Inc.; and Hewlett-Packard Enterprise.
Major players in the market are focusing on R&D, technological
advancements and the development of new products to improve their capabilities
and to gain competitive advantage. Players are also following strategic mergers
and acquisition to gain significant share in the market. The players are also
expected to provide customizable and configurable solutions due to complex
nature of attacks and continuous advancements in the technologies.
Access Press Release of
Data Center Security Market@ www.grandviewresearch.com/press-release/global-data-center-security-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
